Thursday, October 13, 2016

Crash Course in Library Budgeting and Finance

Holt, Glen E. and Leslie Edmonds Holt. Crash Course in Library Budgeting and Finance. Libraries Unlimited, 2016. ISBN:978-1-44083474-5

The book addresses the entire process of financial planning, from a general, conceptual overview of library budgeting to the details of generating and spending income, and describes best practices for implementing financial controls. Subjects covered include building construction and capital projects, fund raising, capital campaigns, moving to fee-based services, extending and developing earned income, financial best practices, and assessment and evaluation. The authors also make recommendations regarding when and how to share relevant financial information throughout the organization and with constituents throughout the book.

Table of Contents

Introduction to library money
Financial literacy in the US
Financial aliteracy of librarians
The national economy and library continuity
Electronic communications : how computers are changing library finance
Legal context : basic rules you need to know
Professional advice
Annual report as a starting point
Purpose documents used for financial plan
Budget planning
Basic library budget language
Shifts in library service demands and income
Primary sources of income
Ways to increase funding
Other sources of donations
Earned income
Dispelling financial myths
Purchasing : your part in spending library funds
Staff costs
Capital expenses
Acquisition of materials
Other expenses
Evaluating the budget
Communicating library financial principles